Connecticut's Gold Coast is living up to its name, with a record $120 million sale of a waterfront estate in Greenwich leading an increase in sales of homes for more than $10 million.
The assessor's office in Greenwich says five homes sold this year for more than $10 million. Mark Pruner, sales executive with Berkshire Hathaway, says another home just sold and another four listed above $10 million are under contract this year. That is compared with only one under contract by this time last year and none sold.
He attributed the rise in sales to the jump in the stock market and bonuses. He also says it could stem from concerns by buyers that taxes will go up on the wealthy under New York City Mayor Bill de Blasio.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.